According to the newpaper article in the binghamton Sun Herald, this is the second year in a row we have had a negative savings rate. Not since the depression of 1932/33 has the rate been so low.
What a terrible situation coming for america. Buy gold!!! Buy guns!!, get a wood stove heater. How can we afford illegal immigration? How can we afford to be world police man?, how can we afford Iraq war?
We as a country are in BIG trouble. Now the baby boom will soon be retiring. When they do, the savings rate will turn down to a negative 10% or 15%. I knew we would have to pay for the iraqi war, but I fear it will soon become a depression, not a major recession.
Am I alone here afraid for our future?
allan
What a terrible situation coming for america. Buy gold!!! Buy guns!!, get a wood stove heater. How can we afford illegal immigration? How can we afford to be world police man?, how can we afford Iraq war?
We as a country are in BIG trouble. Now the baby boom will soon be retiring. When they do, the savings rate will turn down to a negative 10% or 15%. I knew we would have to pay for the iraqi war, but I fear it will soon become a depression, not a major recession.
Am I alone here afraid for our future?
allan
